SVM will leverage Mr. Leroux’s payment industry knowledge and previous employment experience to remain at the forefront of technology and service in the corporate incentives, rewards and promotions industry.
Chicago, IL – October 1, 2010 – SVM, LP, a leading distributor of gasoline and retail gift cards, announces the promotion of Jim Leroux, Executive Vice President, to the position of President.
Prior to joining SVM in 2007, Mr. Leroux was a Partner at First Annapolis Consulting. He holds a Bachelor’s Degree in Economics from Tufts University and a Juris Doctor Degree from Boston College Law School.
In his role as EVP, Mr. Leroux has been instrumental in building relationships with SVM partners that have moved SVM to a unique position in the industry. His efforts have resulted in state-of-the-art solutions such as unique and flexible financial models including SVM’s 3rd party issuance program; e-gift card implementation, gift card customization abilities, and wide-ranging fulfillment options for business customers.
As president, Mr. Leroux is responsible for developing and implementing strategies to enhance and grow SVM’s business to ultimately provide SVM customers optimal solutions through enhanced technology. He will also handle day-to-day responsibilities including close contact with SVM‘s retail clients and key customers.
“SVM has always been customer driven, so our goals are to be on the leading edge of technology and to provide the best service to our customers.” said Mr. Leroux.
Marshall Reavis will remain in his current position as Chief Executive Officer. He will more closely focus on the mid and long-term strategic direction for SVM while continuing to oversee its fuel card portfolio.
“With Jim’s vast experience working within the payment industry as a whole, I have the utmost confidence that he will maximize SVM’s value for its customers, retail clients, loyal employee base and ownership.” Mr. Reavis said.
Founded in 1997, SVM is a leader in the gift card industry and the only company that offers gasoline gift cards from every major oil company in America. In addition to gasoline gift cards, SVM has established long-term relationships with leading brands whereby SVM offers the gift cards from more than 150 of the nation’s most popular retail stores, restaurants, service companies and hotels. SVM supports clients’ gift card programs by providing program management (including 3rd party gift card issuing partnerships), card production and inventory management, retail and individual fulfillment, Internet hosting and 24/7 customer service. SVM is headquartered in the metropolitan Chicago area at 200 E. Howard Ave., Suite 220, Des Plaines, IL. Phone (800) 972-7481 or visit www.svmcards.com.
About Ashby Point Capital
Ashby Point Capital is a small private equity firm whose mission is to make investments in growth companies within the payment systems and financial services industries. The firm is stage agnostic and will invest in both early and later stage growth opportunities, making investments ranging from under $100,000 to over $5 million. Additional information is available atwww.ashbypointcapital.com.